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please answer both parts with correct and detailed calculations and explanations. make sure supporting statements are also provided for each step and calculation. Brief Exercise

please answer both parts with correct and detailed calculations and explanations. make sure supporting statements are also provided for each step and calculation.

Brief Exercise 7-05

Identify in what ledger (general or subsidiary) each of the following accounts is shown.

Accounts

Ledger

a. Rent Expense.

General LedgerSubsidiary Ledger

b. Accounts ReceivableCabrera.

General LedgerSubsidiary Ledger

c. Notes Payable.

General LedgerSubsidiary Ledger

d. Accounts PayablePacheco.

General LedgerSubsidiary Ledger

Brief Exercise 7-06

Identify the journal in which each of the following transactions is recorded.

Transactions

Journals

a. Cash sales.

Purchases JournalSales JournalGeneral JournalCash Payments JournalCash Receipts Journal

b. Owner withdrawal of cash.

Purchases JournalCash Payments JournalCash Receipts JournalGeneral JournalSales Journal

c. Cash purchase of land.

Purchases JournalGeneral JournalSales JournalCash Receipts JournalCash Payments Journal

d. Credit sales.

Cash Receipts JournalGeneral JournalCash Payments JournalSales JournalPurchases Journal

e. Purchase of merchandise on account.

General JournalCash Receipts JournalCash Payments JournalPurchases JournalSales Journal

f. Receipt of cash for services performed.

Cash Receipts JournalCash Payments JournalSales JournalPurchases JournalGeneral Journal

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